- An Indonesian PP producer contacted by SSESSMENTS.COM informed that the latest offers for PP Homo Raffia from the company’s end are stable from last week, at IDR14,600,000/ton ($1,035/ton) on 15 days credit term, FD Indonesia basis and excluding 10% VAT. This week, buying sentiment in the domestic market is deteriorated by the strengthening Rupiah against the greenback, the producer commented. If the local currency continues to strengthen, the producer believes that local prices may move lower in the days to come. On the production sector, no significant issues reported from the producer’s end.
- In Vietnam, a converter reported to SSESSMENTS.COM on receiving offers for PP Homo Raffia from the leading Indian petrochemical producer and from a Malaysian polyolefins producer. On month-on-month comparison, the offers from both origins were hiked by $60/ton, and both are available on the same level, at $920/ton on LC at sight, CIF Vietnam Main Port basis. For Malaysian cargoes, the shipment will be in July, as for Indian cargoes is in August. Particularly for Indian cargoes, the converter opined that such a level is deemed too high.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 41.73 | August Settlement | 0.55 |
| NYMEX | 39.6 | July Settlement | 0.66 |
| Naphtha | 351 | CFR Japan | 5 |
| Ethylene | 803-809 | CFR NEA | 54 to 56 |
| Ethylene | 753-759 | CFR SEA | 49 to 51 |
| Propylene | 773-779 | CFR China | No Changes |
| Propylene | 733-739 | FOB Korea | No Changes |
PP Homo Raffia on cash/credit term, FD basis, excluding VAT (except PHP term includes 12% VAT and VND term includes 10% VAT all equivalent in USD excludes VAT)
| Origin | Currency | Offers/ton | Equivalent in USD/ton |
|---|
| Indonesia | IDR | 13,900,000-14,800,000 | 986-1,050 |
| Malaysia | IDR | 13,800,000 | 979 |
| Southeast Asia | IDR | 14,300,000*-14,600,000* | 1,014-1,035 |
| Malaysia | MYR | 4,080*-4,130* | 957-969 |
| Philippines | PHP | 60,000**-62,000** | 1,072-1,111 |
| Thailand | THB | 32,500-34,000 | 1,025-1,089 |
| Vietnam | VND | 24,500,000-26,000,000 | 953-1,012 |
| Thailand | VND | 24,800,000 | 965 |
Description: *Offers on 30 days credit term **Offers on 60 days credit term
Import on LC at sight, CIF Southeast Asia main port basis
| Origin | Product | Offers (USD/ton) |
|---|
| Far East Asia | PP Homo Raffia | 930 |
| Indian Subcontinent | PP Homo Raffia | 920-930 |
| Middle East | PP Homo Raffia | 870-930 |
| Southeast Asia | PP Homo Raffia | 900-950 |
Tags: Asia Pacific,Daily,English,PP,SEA
Published on June 11, 2020 11:57 AM (GMT+8)
Last Updated on June 11, 2020 11:57 AM (GMT+8)
